CLEVELAND, OH (May 16, 2012) – The College Town Kent project, a $30 million public-private development initiative led by Cleveland-based Fairmount Properties, was awarded Mixed-use Project of the Year by the Northern Ohio Chapter of NAIOP at their Annual Awards of Excellence. As a cornerstone of the transformation occurring in downtown Kent, this pedestrian-scaled development consists of 50,000 sq. ft. of new retail and restaurant space, over 75,000 sq. ft. of new office space including new corporate headquarters for the Davey Tree Resource Group and two divisions of AMETEK, Inc., as well as over 40 new high-end apartments.
Signifying the collaborative effort to make the development a reality and joining Fairmount Properties to accept the award were members of the public sector including Mayor Jerry Fiala and Bryan Smith, Director of Planning at Portage Area Regional Transportation Authority (PARTA). In all, over $100 million is now being invested in a 5 block area of downtown Kent, serving to physically and contextually connect the main campus of Kent State University to the downtown commercial district while creating hundreds of new construction and permanent jobs.
“We are thrilled to receive this recognition after four and a half years of hard work, but we couldn’t have done it alone. Our partners at the City of Kent, Kent State, PARTA, BUD Kent and others in the private sector all participated in the visioning and execution of this exciting new development,”said Randy Ruttenberg, founder and principal at Fairmount Properties. “We are proud to be part of the renaissance of downtown Kent, but it is a responsibility we don’t take lightly. We have already begun the process of integrating with the marketing, promotion and event planning already in place in Kent and we look forward to the project’s Grand Opening in September.”
NAIOP represents commercial real estate developers, owners and investors of office, industrial, retail and mixed-use properties. It provides strong advocacy, education and business opportunities, and connects its members through a powerful North American network. The Northern Ohio Chapter held its 2012 Awards of Excellence in Cleveland on May 9.
College Town Kent is a pedestrian-oriented shopping, office and lifestyle center with a blend of local, regional and national shops, restaurants and businesses. Integrated into the fabric of the downtown and connected to the main campus of KSU, College Town Kent will include Panini’s, UniversiTees, Bricco, Palmieri Salon, Fresco Mexican Grill & Salsa Bar, Gracy Lane, Dave’s Cosmic Subs, Yogurt Vi, Newdle Bar and others. Located at the most travelled corridor in Portage County at the intersection of SR-59 and Water St, please visit our Web site at www.fairmountproperties.com for more information.
For more information about the limited retail leasing opportunities remaining or apartment availability at College Town Kent, contact Fairmount Properties at 216-514-8700.
MEDIA PHOTOS ARE AVAILABLE UPON REQUEST.
Please contact Adam Branscomb at 216-514-8700, extension 106 or Debra Sherman at 330-256-8704.